MANILA, Philippines - The Land Transportation Franchising and Regulatory Board on Friday announced that it has granted P.50 fare increase for public utility jeepneys in the National Capital Region, Regions 3 and 4.
LTFRB chairman Winston Ginez said the Board also granted a P.10 for the succeeding kilometers.
The Board's decision came following the fare hike petition filed by several transport groups on Dec. 11, 2013, asking a P2-increase in in the fare for the first four kilometers.
The Board approved the P.50-fare hike due to the increase of fuel cost in the past months.
Ginez said the jeepney operators should secure first the fare matrix before they could impose the fare adjustment.
The new fare adjustment will begin on June 14.